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Wall Street Journal

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Discussions from Wall Street Journal

Geopolitics

How should countries respond to Iran's actions in the Strait of Hormuz to ensure safe passage for all ships?

By Nidhi Verma and Florence Tan Aug 24 (Reuters) - Iran said it had blacklisted 45 tankers that had broken its rules for crossing the Strait of Hormuz, and would take action against any vessels transferring loads with them, escalating its threats over the key waterway six months into the war. The named vessels could be fined, detained and have their cargoes confiscated, according to an X post late on Sunday from the Persian Gulf Strait Authority, a new body set up by Iran to manage the strait

United States
Economy

What are the possible effects of a trade war with Canada on both Detroit and the wider U.S. economy?

LONDON, Ontario — President Donald Trump seems dead set on escalating his trade war with Canada. And no one is really sure why. On Monday, Trump threatened another round of 50 percent tariffs on top of the ones he just implemented — this one targeting Canada’s auto industry, which is so deeply integrated with its American counterpart […]

United States
Geopolitics

What should the international community do about the nuclear materials found in Syria?

UN inspectors this week visited several undeclared Assad-era Syrian nuclear sites for the first time — including some used to store nuclear material. Why it matters: The inspections by International Atomic Energy Agency (IAEA) Director General Rafael Grossi and his team came after diplomatic efforts by the Trump administration, first reported by Axios, that produced understandings with both Syria and Israel. It marked the first time the IAEA was given full access to suspicious nuclear sites in Syria. Flashback: The Assad regime had developed a secret nuclear program centered on the clandestine Al-Kibar reactor. After Israel bombed the reactor in 2007, the Syrian nuclear program was mostly destroyed. But several research-and-development and storage sites remained, though they were mostly inactive.After the fall of the Assad regime, the IAEA signed an agreement with the new Syrian government giving it access to Al-Kibar and several other sites connected to Syria's past nuclear activity.One facility that Israel and the U.S. have been closely monitoring the past two years is known as "Site 99."Two Israeli officials said the Assad regime stored nuclear material there that was part of the Al-Kibar nuclear reactor project. Driving the news: At a press conference with Grossi on Tuesday, Syrian Foreign Minister Asaad al-Shaibani said his government sent a letter to the IAEA on July 17 disclosing the nuclear material and inviting UN inspectors to visit the site. Grossi said IAEA inspectors visited the Al-Kibar nuclear reactor site in Deir Ez-Zor and "observed ongoing excavation activities" taking place in coordination with the IAEA. Grossi said he and his team visited an undeclared location outside Damascus where "several tons of natural uranium metal" were stored. They also visited a location "where large quantities of graphite are stored," material that is also related to past nuclear activities at Al-Kibar. What they're saying: "We agreed with the Syrian government that th

Global
Economy

What are the possible impacts of the U.S.-Canada trade conflict on everyday people and businesses?

Trade talks between the U.S. and Canada fell apart late Friday night, and both sides said steep new tariffs will go into effect. Why it matters: It's an unprecedented breakdown in relations with the second-largest U.S. trading partner. Catch up quick: Trump last month threatened to invoke Section 338 of the Tariff Act of 1930 to hit a slew of Canadian goods with additional 50% duties, including alcohol, hockey equipment, cement and dairy products. No president has ever used Section 338 to impose tariffs since it became law in 1930.The tariffs were scheduled to take effect at 12:01 a.m. ET Wednesday. The administration carved out key Canadian exports, including energy, potash and critical minerals, from the new tariffs.On Tuesday, Trump postponed the tariffs for three days, saying the two sides had a deal. Driving the news: They did not. U.S. Trade Representative Jamieson Greer said late Friday that Canada had made last-minute demands that upset the pact, Bloomberg reported. Canadian Prime Minister Mark Carney, in a statement posted to X, alleged it was the U.S. that had made late changes to the terms, and said he had decided to suspend the negotiations. Friction point: "Canada will match those tariffs dollar for dollar to protect our workers and businesses," Carney wrote. The exact shape of that retaliation was not immediately clear. By the numbers: Trade between the two countries totaled $376 billion in the first half of the year, per Census data — double China and trailing only Mexico. The bottom line: After more than a year of threatening various stronger tariffs against Canada, the U.S. is making its most aggressive move yet to actually impose them

United States